Income tax Challan

  • It is a simple form used to pay tax to the government.
  • Tax is deposited in Authorized Banks and not directly with Income tax Department.
  • It can be paid
  • Direct Online – through Net Banking
  • Manually – By Going to Bank Physically
  • Prescribed Challan form. is Challan 280.

Note:-While paying challan,it is to be mentioned what type of Income Tax it is

   

 

Types of Income tax

  • Self-Assessment tax

        It is the tax paid at the time of filing Return (i.e. after 31 March)

 

  • Advance tax

        It is the tax paid in advance during financial year

         (i.e. from 1 April to 31 March)

 

  • Tax on Regular Assessment

          It is tax paid when some notice is received by Income tax.Department

 

  1. Taxation for CA,CS,CMA Bcom M Com Exams May - June 2018
  2. Income Tax
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Davneet Singh
Davneet Singh is a graduate from Indian Institute of Technology, Kanpur. He has been teaching from the past 7 years. He provides courses for Mathematics and Science from Class 6 to 12. You can learn personally from here https://www.teachoo.com/premium/maths-and-science-classes/.
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